OpenAI’s COO, Brad Lightcap addressed the sudden departure of CEO Sam Altman in a memo to employees, emphasizing that the decision was not related to any misconduct or financial issues. According to Lightcap, there was a “breakdown in communication” between Altman and the board, and discussions about the company’s future are ongoing. He assured employees…
In a tweet late Friday night, Elon Musk, the CTO of social media platform X, threatened to file a lawsuit against Media Matters and others for what he called a “fraudulent attack” on their company. This came after a report last week from Media Matters for America (MMFA) showed ads for mainstream brands on X…
Legendary value investor Jeremy Grantham has launched his firm’s first active ETF called the GMO U.S. Quality ETF. He has put GMO partner Tom Hancock in charge of it. According to Hancock, interest in active ETFs has increased in recent years, especially among institutional clients, due to tax advantages and ease of trading. The new…
Bridgewater Founder Ray Dalio Warns U.S. Debt Nearing ‘Inflection Point’ In a recent appearance on CNBC’s “Squawk Box,” Ray Dalio, the founder of Bridgewater Associates, issued a warning about the escalating U.S. government debt. Dalio emphasized that the mounting debt could lead to bigger economic, political, and social problems for the country. The U.S. currently…
Republican Rep. George Santos of New York is facing expulsion from Congress after a damning report found evidence of campaign fraud and theft. The House Ethics Committee chairman, Michael Guest, filed a resolution to expel Santos, stating that the evidence uncovered during the investigation is grounds for punishment in the form of expulsion. The resolution…
Boston Fed President Susan Collins: More rate hikes may be needed despite recent inflation signs Boston Federal Reserve President Susan Collins cautioned that despite recent positive signs on inflation, more interest rate hikes could still be necessary. In an interview with CNBC, Collins emphasized the importance of appreciating the good news but also staying the…
SpaceX’s mammoth Starship rocket took off from the company’s Boca Chica launchpad in Texas on an uncrewed test flight. The launch was a significant milestone for Elon Musk’s company, showcasing the next generation of spacecraft. The launch occurred just after 8 a.m. ET from the Starbase facility near Boca Chica, Texas. The seven-minute flight was…
Elon Musk, the CEO of Tesla Inc., was criticized by the White House on Friday for endorsing “Antisemitic and racist hate” after agreeing with a social media post accusing “Jewish communities” of promoting “hatred against whites.” White House spokesman Andrew Bates condemned Musk’s views, calling them “unacceptable” and a betrayal of American core values. The…
Midday Trading Update: Gap, Spectrum Brands, and ChargePoint Make Headlines In the latest midday trading update, several companies are making headlines with significant stock movements. Gap, the apparel retailer, saw shares surge by 30.6% after posting fiscal third-quarter results that beat Wall Street’s estimates. The strong sales at Old Navy and improvements at its namesake…
American Express Travel recently released its 2024 Trending Destinations list, which showcases the top 10 must-visit vacation spots based on global card member travel bookings and recommendations from a team of 6,000 travel consultants. According to Audrey Hendley, President of American Express Travel, the data reveals that people are seeking new experiences and a chance…
